Ousted Tata Sons chairperson Cyrus Mistry has been removed from the board of directors of Tata Teleservices. Shareholders came to the unanimous decision at an extraordinary general meeting of the telecom firm on Tuesday, but the outcome was made public on Wednesday. Mistry’s removal as director also strips him of chairmanship of the company.
This comes a day after 93% of the shareholders of Tata Consultancy Services voted in support of removing Mistry from the firm’s board of directors. Though many of them had spoken in favour of ousting Mistry from the board at the TCS meeting, some had questioned the step.
On Monday, Mistry was removed as the director of Tata Industries after an EGM, which Tata Sons had called for at the seven companies where Mistry continued to serve as a board member to remove him from the position. Ishaat Hussain had replaced Mistry as the TCS chairman on November 10.
Both sides have accused the other of wrongdoing in company matters. On Sunday, the holding company alleged that Mistry had misled the 2011 selection committee set up to appoint Ratan Tata’s successor, saying he had taken advantage of his position to “systematically” dilute the representation of Tata Trusts on the boards of group companies. However, the ousted Tata Sons chairman levelled counter-accusations against the group. Mistry, who was removed from his position on October 24, had also accused the Tata Sons board of “wrongful dismissal”.
Limited-time offer: Big stories, small price. Keep independent media alive. Become a Scroll member today!
Our journalism is for everyone. But you can get special privileges by buying an annual Scroll Membership. Sign up today!